M&A

XLMedia to acquire Sports Betting Dime for $26m

| By Robert Fletcher
Affiliate business XLMedia has reached an agreement to acquire US-focused sportsbook review website Sports Betting Dime (SBD) for $26.0m.

Founded in 2012, SBD operates as a multi-channel platform, providing a range of data and tools for novices and experts, including betting odds, trends, reports, futures trackers and analysis.

XLMedia said the acquisition would provide it with a US affiliate sports betting brand and strengthen its presence in the country’s legal wagering market.

SBD had been in the process of preparing its site to meet regulatory standards and, should the acquisition go ahead as expected, SBD will be able to leverage XLMedia’s licences and deals with operators to monetise its traffic in the nine states where XLMedia is active.

XLMedia will pay an initial $11.0m up front, together with up to $500,000 as a reimbursement of SBD’s operating expenses per month since the beginning of the current year.

Read the full story on iGB North America.

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